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Post by northwestman on Jun 16, 2021 11:02:28 GMT 1
www.theguardian.com/business/2021/jun/16/cashless-society-draws-closer-with-only-one-in-six-payments-now-in-cashThe UK has moved a big step closer to becoming a cashless society after official data showed that the number of payments made using notes and coins fell by 35% in 2020. Cash was only used for one in six payments, compared with a decade ago when it accounted for more than half of the total. Changes in spending habits have been dramatically accelerated by the coronavirus pandemic, and 13.7 million people lived a largely cashless life last year – almost double the 7.4 million figure in 2019. Banking body UK Finance, which issued the figures, said it was too early to say whether these were permanent changes in payments behaviour. Some of this reflected the fact that many places where people commonly use cash, such as pubs and cafes, were shut for chunks of last year, while the lockdowns prompted a surge in the numbers shopping online. On top of that, some consumers have been avoiding touching banknotes and coins because of Covid transmission worries. Nevertheless, the findings are likely to fuel concern about millions of people potentially being left behind as the shift to a cashless society speeds up. About 1.2 million consumers still mainly used cash for their day-to-day spending during 2020. For everyone else, contactless and mobile payments have exploded in popularity. The number of contactless payments rose by 12% during 2020, and overall they accounted for more than a quarter (27%) of all payments. As recently as 2016, the figure stood at 7%. The contactless card limit will shortly be increased to £100. Another payment method in decline is the cheque. The number used to make payments fell by 32% last year to 185m. In 2010 it was more than 1bn.
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Post by GrizzlyShrew on Jun 16, 2021 11:12:37 GMT 1
I still use cash as my regular way of paying for smaller value stuff. So about 90% of my purchases are still cash.
Still a lot of catching up to do with such things as parking meters to becoming cashless. Some take cards but most still dont. Cash will still be used for some time yet I'm sure.
With my business I take payment by cash, cheque or bank transfer. Its split roughly 1/3 each the way customers are happy to pay me. I've got no preference to be paid any of them, I'm just happy to give the customer the option they want. No payment is ever a problem for me
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Post by staffordshrew on Jun 16, 2021 11:19:25 GMT 1
I still use cash as my regular way of paying for smaller value stuff. So about 90% of my purchases are still cash. Still a lot of catching up to do with such things as parking meters to becoming cashless. Some take cards but most still dont. Cash will still be used for some time yet I'm sure. With my business I take payment by cash, cheque or bank transfer. Its split roughly 1/3 each the way customers are happy to pay me. I've got no preference to be paid any of them, I'm just happy to give the customer the option they want. No payment is ever a problem for me Where I park in Wolverhampton, the car park machine now only takes cards. Almost every time I have to go through how to use it with with those in the queue. Once the poor person did not have a credit or debit card, so had to go somewhere else.
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Post by Minormorris64 on Jun 16, 2021 11:23:10 GMT 1
www.theguardian.com/business/2021/jun/16/cashless-society-draws-closer-with-only-one-in-six-payments-now-in-cashThe UK has moved a big step closer to becoming a cashless society after official data showed that the number of payments made using notes and coins fell by 35% in 2020. Cash was only used for one in six payments, compared with a decade ago when it accounted for more than half of the total. Changes in spending habits have been dramatically accelerated by the coronavirus pandemic, and 13.7 million people lived a largely cashless life last year – almost double the 7.4 million figure in 2019. Banking body UK Finance, which issued the figures, said it was too early to say whether these were permanent changes in payments behaviour. Some of this reflected the fact that many places where people commonly use cash, such as pubs and cafes, were shut for chunks of last year, while the lockdowns prompted a surge in the numbers shopping online. On top of that, some consumers have been avoiding touching banknotes and coins because of Covid transmission worries. Nevertheless, the findings are likely to fuel concern about millions of people potentially being left behind as the shift to a cashless society speeds up. About 1.2 million consumers still mainly used cash for their day-to-day spending during 2020. For everyone else, contactless and mobile payments have exploded in popularity. The number of contactless payments rose by 12% during 2020, and overall they accounted for more than a quarter (27%) of all payments. As recently as 2016, the figure stood at 7%. The contactless card limit will shortly be increased to £100. Another payment method in decline is the cheque. The number used to make payments fell by 32% last year to 185m. In 2010 it was more than 1bn. I think you will find Cheques will disappear before cash.
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Post by davycrockett on Jun 16, 2021 11:24:13 GMT 1
Weren't we asked to use contact less payment when possible due to Covid? Ive hardly used cash since the start if covid and will continue with contact less wherever possible, why not?
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Post by Deleted on Jun 16, 2021 11:43:14 GMT 1
It's hardly a surprise cashless payments have increased during the past year when we were encouraged to do so, there's fewer & fewer places which don't accept cards (the chinese by me is cash only but that's probably a good thing as restricts me!). But generally it's no surprise anyway as technology improves with paying by phone/watch etc.
Personally I'm a fan as I find I spend less money, lets say I buy something for £12, if I pay by card then its simply £12. However if I pay by cash then I'm likely to give them a £20 note, get change of £8 and that £8 then just seems to disappear over the next few days
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Post by thesensationaljt on Jun 16, 2021 12:00:32 GMT 1
The taxman hates cash payments. Hard to track. I continue to use cash whenever possible just to annoy them.
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Post by northwestman on Jun 16, 2021 12:01:06 GMT 1
But with a contactless payment I always ask for a receipt. Am always very nervous about fraud.
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Post by GrizzlyShrew on Jun 16, 2021 12:04:50 GMT 1
www.theguardian.com/business/2021/jun/16/cashless-society-draws-closer-with-only-one-in-six-payments-now-in-cashThe UK has moved a big step closer to becoming a cashless society after official data showed that the number of payments made using notes and coins fell by 35% in 2020. Cash was only used for one in six payments, compared with a decade ago when it accounted for more than half of the total. Changes in spending habits have been dramatically accelerated by the coronavirus pandemic, and 13.7 million people lived a largely cashless life last year – almost double the 7.4 million figure in 2019. Banking body UK Finance, which issued the figures, said it was too early to say whether these were permanent changes in payments behaviour. Some of this reflected the fact that many places where people commonly use cash, such as pubs and cafes, were shut for chunks of last year, while the lockdowns prompted a surge in the numbers shopping online. On top of that, some consumers have been avoiding touching banknotes and coins because of Covid transmission worries. Nevertheless, the findings are likely to fuel concern about millions of people potentially being left behind as the shift to a cashless society speeds up. About 1.2 million consumers still mainly used cash for their day-to-day spending during 2020. For everyone else, contactless and mobile payments have exploded in popularity. The number of contactless payments rose by 12% during 2020, and overall they accounted for more than a quarter (27%) of all payments. As recently as 2016, the figure stood at 7%. The contactless card limit will shortly be increased to £100. Another payment method in decline is the cheque. The number used to make payments fell by 32% last year to 185m. In 2010 it was more than 1bn. I think you will find Cheques will disappear before cash. Cheques are just sooo easy now. Pay in via your banking app at home, 24/7. Money into your account in 48 hours. The banks did that after there were so many complaints about them being withdraw.
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Post by staffordshrew on Jun 16, 2021 12:06:13 GMT 1
Chatwin's cake shop, at least in the height of the pandemic, was only taking cards. My eclair was 65p, card payment only.
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Post by GrizzlyShrew on Jun 16, 2021 12:08:32 GMT 1
Weren't we asked to use contact less payment when possible due to Covid? Ive hardly used cash since the start if covid and will continue with contact less wherever possible, why not? We were. I decided it was my money and I would spend it how I (the customer) wanted. I had forgot to take my card one day, and this shop was "card only". After being told they only accepted cards, and me saying I only had cash surprisingly cash was accepted. I think shops soon realised that many customers are still "cash preferred" and will be until they are no longer around. Most shops cant afford to lose business
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Post by GrizzlyShrew on Jun 16, 2021 12:08:54 GMT 1
The taxman hates cash payments. Hard to track. I continue to use cash whenever possible just to annoy them. Me too
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Post by Deleted on Jun 16, 2021 12:11:43 GMT 1
I use contactless pretty much most of the time.
Electronic payments will make it difficult for criminals to launder money.
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Post by GrizzlyShrew on Jun 16, 2021 13:31:12 GMT 1
Chatwin's cake shop, at least in the hight, of the pandemic was only taking cards. My eclair was 65p, card payment only. I'm sorry but 65p on a card is still a big No No from me. I would still be embarrassed to use a card for such an amount, rightly or wrongly.
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Post by staffordshrew on Jun 16, 2021 14:04:40 GMT 1
Chatwin's cake shop, at least in the hight, of the pandemic was only taking cards. My eclair was 65p, card payment only. I'm sorry but 65p on a card is still a big No No from me. I would still be embarrassed to use a card for such an amount, rightly or wrongly. Card is all that Chatwins cake shop would take, also had to go in through the front door and out through the fire door. (Chatwins, Newcastle under Lyme).
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Post by darkshrew on Jun 16, 2021 15:06:38 GMT 1
Not used any cash since March last year; so much easier to use the card or phone.
Like northwestman I'm worried about fraud; but so far no problems and nobody I know has had problems.
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Post by bictonshrew on Jun 16, 2021 15:35:19 GMT 1
Only old people use cash now.
Cards, phones and watches for the majority.
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Post by martinshrew on Jun 16, 2021 15:55:52 GMT 1
Only old people use cash now. Cards, phones and watches for the majority. Sweeping statement. I respect small businesses and use cash under £10 where possible as it costs the owner a percentage per transaction. Big supermarkets or chains I don't really care if I put 50p on card.
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Post by davycrockett on Jun 16, 2021 16:02:41 GMT 1
But with a contactless payment I always ask for a receipt. Am always very nervous about fraud. Just think when you paid by cheque you were handing over all your bank details everytime. Much safer with contactless than cash also. You can always prove you've paid even without a receipt 👍
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Post by frankwellshrews on Jun 16, 2021 16:08:51 GMT 1
Only old people use cash now. Cards, phones and watches for the majority. Sweeping statement. I respect small businesses and use cash under £10 where possible as it costs the owner a percentage per transaction. Big supermarkets or chains I don't really care if I put 50p on card. It also costs them a percentage to pay in cash as well, plus there's the hassle of storing and transporting it, time spent cashing up at the end of the day (speaking as an accountant with family who run a small shop I cannot begin to estimate how much time and money is lost in small/micro businesses with poor cash handling processes. Can't miss anything if it's all electronic). The main advantage of cash these days still remains the option to keep some of it off the books and that's exactly why it will disappear sooner rather than later.
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Post by davycrockett on Jun 16, 2021 16:09:56 GMT 1
Weren't we asked to use contact less payment when possible due to Covid? Ive hardly used cash since the start if covid and will continue with contact less wherever possible, why not? We were. I decided it was my money and I would spend it how I (the customer) wanted. I had forgot to take my card one day, and this shop was "card only". After being told they only accepted cards, and me saying I only had cash surprisingly cash was accepted. I think shops soon realised that many customers are still "cash preferred" and will be until they are no longer around. Most shops cant afford to lose business Most people use contactless cos it's safer and want to help stop the spread... Not compulsory but you can order your drink through an app and pay without putting someone else at risk... Sort of makes sense
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Post by thesensationaljt on Jun 16, 2021 16:58:17 GMT 1
Only old people use cash now. I still use cash.......
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Post by ssshrew on Jun 16, 2021 17:02:02 GMT 1
So do I.
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Post by martinshrew on Jun 16, 2021 17:24:24 GMT 1
Dare I mention crypto becoming mainstream? No, ok ... I'll go back to the other thread 😂
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Post by GrizzlyShrew on Jun 16, 2021 18:14:12 GMT 1
Only old people use cash now. I still use cash....... Me too. But there is a growing number of old people and they will spend how they will spend. Cant see too many shops being fully card only any time soon, unless they are on a fast track to going bust. Banks had to re-think when they decided cheques were going to go. Cash will be no different.
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Post by pughywasfree on Jun 16, 2021 18:22:24 GMT 1
A cashless sociaty terrifies me. We on a one way path to every single transaction being tracked and being in a situation that we could be left without money with a click of a mouse.
Use cash whenever possible or face the consequences.
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Post by martinshrew on Jun 16, 2021 18:48:11 GMT 1
A cashless sociaty terrifies me. We on a one way path to every single transaction being tracked and being in a situation that we could be left without money with a click of a mouse. Use cash whenever possible or face the consequences. What terrifies you?
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Post by Pilch on Jun 16, 2021 18:53:22 GMT 1
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Post by Feedo Gnasher on Jun 16, 2021 19:49:34 GMT 1
Firmly in the cashless camp. Especially in this hot weather when you’re not wearing coats with unlimited pockets, knowing you can go out with just your keys, your facemask and your phone which can be used to pay for anything is so much easier and convenient.
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Post by darkshrew on Jun 16, 2021 20:14:31 GMT 1
Just been to the air and water machine at the Asda petrol station - even it takes credit cards.
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